Sue Hall

"My reputation is your guarantee"

" Sue Hall You've done it again Sue! Sold another home for us in a very professional manner, kept us informed throughout the process and done so in a caring way. We couldn't have asked for more. Thank you Sue!! "

- Sonny and Eileen

"Great company, great resources and great people. Sue has managed to sell our house within only the two month period we agreed upon. The sale became unconditional within seven days and Sue managed to keep our lovely tenant in place, as we had promised them. Great job! Thank you Sue and your team. "

- Mujiono family
More testimonials »

Auckland Investors Look Further Afield

20th Jul 16

Auckland property investors are on a buying spree - snapping up more and more houses in their own city as well as almost a fifth of all the houses sold in Hamilton last month.

Property owners who own multiple houses including some in Auckland bought just under half of all the houses sold in the city of sails in June - the biggest number of investors to buy in any one month, according to data provided to the Herald by CoreLogic.

Their spending continued south of the Bombay Hills where they bought 17 per cent of all the houses sold in Hamilton, up 10 per cent from June 2014. Between 2010 and 2014, Auckland investors buying in Hamilton hovered near the 5 per cent mark but soared to 18 per cent last September.

Property Investors Federation executive officer Andrew King said Auckland investors started looking to places such as Hamilton to buy about September when the yields for rentals in Auckland were dropping. "At the same time the Reserve Bank made it harder for investors to buy in Auckland but easier elsewhere."

CoreLogic senior research analyst Nick Goodall said the rise of Auckland investors in Hamilton had come at a cost to other investors and, to a lesser extent, first-home property buyers.

CoreLogic analysis also showed Auckland investors were willing to spend as much as first-home buyers in Hamilton, Tauranga and Whangarei which pushed prices up and other investors out of the market.

"Those Aucklanders when they do go into those markets, they have been paying close to first-home buyers (who tend to pay an average of 2 per cent more than other buyers) and the reason being they've got the money because they've got their home leveraged up in Auckland and have got the money to pay a little bit more."

Jeremy O'Rourke, managing director of Hamilton-based real estate agency Lodge, said at first Aucklanders had seen more value in the Hamilton market because they could get much higher rental returns, but Hamiltonians were now realising the value of the city for themselves.

"We've seen quite a number of Hamiltonians move in the last four months and be prepared to pay for it," O'Rourke said. "There's certainly no evidence we have that Hamiltonians are being beaten by Aucklanders by price currently."

Auckland investors also had Tauranga in their sights, with an extra 5 per cent snapping up properties in the Bay of Plenty city compared with last year. The analysis showed this had come at the expense of other investors and people moving houses.

Although Whangarei felt like an afterthought compared with Tauranga and Hamilton, Auckland investors now made up 12 per cent of the market compared with just 7 per cent in previous years.

 

- Courtesy of NZ Herald

 

^ top
Filed under Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

How is the Real Estate Market looking following Covid-19?

Though it is always difficult to have a crystal ball when it comes to predicting the real estate market, there are several historical factors we can look at when evaluating the market moving forward.  A number of comments in this blog have come from trusted sources and experiences of those who have had lengthy careers in the Real Estate industry, including working through the previous Global Financial Crisis.

Read More »

Covid-19 and Your Property - What You Need to Know

For answers to the frequently asked questions regarding Covid-19 and Real Estate, please visit this informative article from Lodge Real Estate.

Read More »

Balloons Over Waikato 2020

It was with extreme disappointment and heavy hearts that the organisers of Balloons Over Waikato announced that all public events, including morning inflation and the Nightglow have been cancelled. "As per the Government recommendations in regards to mass gatherings, Balloons over Waikato have made the decision to cancel public attendance at Innes Common for morning flying, The University of Waikato for Nightglow, and all other sub events associated with the Festival."

Read More »

Ruakura Inland Port Set To Open In Two Years

An inland port the size of Auckland's CBD in Hamilton is one step closer with Tainui Group Holdings and Port of Tauranga joining forces to open at Ruakura within two years.

Read More »

Waitangi Day 2020

The 6th of February every year is Waitangi Day.  This day is the most important marker in New Zealand’s history and commemorates the first signing of Te Ririti o Waitangi, The Treaty of Waitangi. Waitangi Day is a day to reflect on the controversy that surrounds the Treaty of Waitangi – Throughout history and within today’s society, how this has affected all New Zealanders and how it has shaped the country in which we live today.

Read More »

More Blog Articles »